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Jan 27, 2010

CPF Rate: Special Medisave Retirement Account

CPF Rate: Special Medisave Retirement Account

Singapore Savings Account Rates presents CPF Rate: Special Medisave Retirement Account.

In your search for CPF Rate: Special Medisave Retirement Account, you have come to the right finance blog for the latest CPF rate updates.

So what are the latest CPF rates other than the Ordinary Account?

CPF Interest Rate for SMA Monies

Since 1 January 2008, savings in the SMA have been invested in Special Government Securities (SSGS) which earn an interest rate pegged to the 12-month average yield of 10-year Singapore Government Securities (10YSGS) plus 1%, adjusted quarterly.

The 12-month average yield of the 10YSGS plus 1% rate worked out to be 3.31% for the period 1 December 2008 to 30 November 2009. Since the interest rate peg for SMA monies is below 4%, the SMA CPF rate interest rate from 1 January 2010 to 31 March 2010 will be maintained at 4%.

CPF Interest Rate for RA Monies

From 1 January 2010, RA savings will be invested in SSGS which earn a fixed coupon equal to the 12-month average yield of the 10YSGS plus 1% at the point of issuance. The interest rate to be credited to the RA will be the weighted average interest of the entire portfolio of these SSGS, and adjusted yearly in January.

Since the interest rate peg for the fixed coupon is below 4%, existing RA savings will be invested in SSGS which earn a fixed coupon of 4% (floor rate). Hence, the CPF rate of RA interest rate from 1 January 2010 to 31 December 2010 will be 4%.

Additional CPF Interest of 1%

An additional 1%CPF rate interest will continue to be paid on the first $60,000 of a member’s combined balances, with up to $20,000 from the Ordinary Account (OA). The additional CPF rate interest received on the OA will go into the member’s SA or RA to enhance his retirement savings. If the member is above 55 years old and participates in the LIFE scheme, the additional CPF rate 1% interest will also apply to his annuity premium, less annuity payouts already made. The additional CPF rate interest earned on the member’s LIFE annuity monies will be paid into his RA.


Thanks for reading Singapore Savings Account Rates.

The Team
Singapore Savings Account Rates.

Jan 25, 2010

OCBC Bank Statement Savings Rates Singapore

OCBC Bank Statement Savings Rates Singapore

Singapore Savings Account Rates presents OCBC Bank Statement Savings Rates Singapore on this day in January 2010.

What are the OCBC Bank Statement savings rates?

Before we reveal that, note that statement savings rates are shown for your information. In your investment of cash in stocks, shares, bonds, unit trusts or other banking products, check that you re-confirm the savings account rates with bank.

OCBC Bank Statement Savings Singapore (With / Without Debit Card) Account Rates

Amount | Rate (% p.a.)
First $10000 =0.1250
From $10001 to $50000 =0.1750
From $50001 to $250000 =0.3250
Above $250000 =0.4000

Savings Account rates are subject to change without notice.

Thanks for reading Singapore Savings Account Rates, where we bring you the latest and best selected Singapore savings account rates.

The Team
Singapore Savings Account Rates.

Jan 20, 2010

CPF Rate

CPF Rate

Singapore Savings Account Rates presents the latest CPF rate.

Interest Rate For Ordinary Account (OA) CPF Rate

The Board will continue to pay the CPF rate of 2.50% interest per annum for members’ CPF savings in their OA from 1 January 2010 to 31 March 2010.

The computed CPF rate derived from the major local banks’ interest rates for the three-month period, 1 August 2009 to 31 October 2009, worked out to be 0.42 % per annum. However, the higher rate of 2.50% will be paid as the CPF Act provides for a minimum CPF rate of 2.50% per annum.

Check out our site for more CPF rate updates or the Central Provident Fund Board CPF Board for the latest news on CPF rates.


Thanks for reading Singapore Savings Account Rates.

The Team
Singapore Savings Account Rates.

Jan 19, 2010

Finatiq Investment Account Interest Rate

Finatiq Investment Account Interest Rate

Singapore Savings Account Rates presents Finatiq Investment Account Interest Rate this January 2010.

Finatiq Investment Account interest rate are shown for your information. Before you consider investing cash in stocks, shares, bonds, unit trusts or other banking products, ensure that you re-verify the savings account interest rates with financial institution concerned.

So what are the latest Finatiq investment account interest rates?

Finatiq Investment Account Rates:

Interest Rate = 0.125% p.a.

Finatiq Investment Account Interest rates are subject to change without notice at the absolute discretion of the respective bank.

Thanks for reading Singapore Savings Account Rates, where we bring you the latest and best selected Singapore savings account rates.

The Team
Singapore Savings Account Rates.

Jan 18, 2010

Are Women Better Savers, Men Better Investors?

Are Women Better Savers, Men Better Investors?

How women approach personal financial investments or savings depends on factors like whether they have an income or not, their personal financial circumstances, their money-making investment objectives, their knowledge about financial investment products and their confidence in investing their own cash portfolio.

Are women better savers and men better investors? 

Women should rest easy to note that men are not better at managing finances than women. In terms of financial investment and savings outcomes, the difference is largely insignificant. This piece of good news has been verified by academic research.

However the investing and saving styles between women and men differ. In a study, results showed that there were some obvious differences:

* Women tend to be more risk averse, holding more diversified portfolios.
* This lower risk leads to slightly lower gross returns on women investors’ portfolios.
* Women tend to trade less frequently then men.
* Women incur lower trading costs (by trading less often).
* After-cost performance between men and women are quite similar.
* Women are less likely to exhibit over-confidence (if we interpret excessive trading as a sign of over-confidence).

These general observations do not imply that all women behave in the same way or that all men do so as well. Individual investing and saving habits will differ. At different stages of their lives, the same person may go through a range of investing and savings styles as personal financial circumstances change.

The main message in this educational effort by Singapore Savings Account Rates site is to realize that to be a better saver or investor, men and women must take charge of their own financial planning.

Take home message for savers and investors:

Women (as well as men) should take charge of their own financial planning and cash management to suit their own needs, regardless of popular opinion.

Women (and men) should also invest with confidence, as they are as good as men (or women).

Thanks for investing time to read our educational material today on Singapore Savings Account Rates, where we bring you the latest and best Singapore savings account rates.

The Team
Singapore Savings Account Rates.

Jan 13, 2010

RHB Bank Singapore Current Account Interest Rates

RHB Bank Singapore Current Account Interest Rates

Singapore Savings Account Rates presents RHB Bank Singapore Current Account Interest Rates this January 2010.

Rates are shown for your information. Before you consider investing cash in stocks, shares, bonds, unit trusts or other banking products, ensure that you re-confirm the savings account rates with bank concerned.

RHB Bank Singapore Current Account Interest Rates

Deposit account for non-profit organizations with high interest rates and flexibility as well as convenience of a cheque facility.

RHB Interest Bearing Current Account Rates
Deposit Amount | Interest Rates *
First S$50,000 = 0.3750% p.a.
Next S$200,000 = 0.5000% p.a.
Next S$250,000 = 0.5625% p.a.
Above S$500,000 = 0.5625% p.a.


Savings Account rates are subject to change without notice at the absolute discretion of bank.

Thanks for reading Singapore Savings Account Rates, where we bring you the latest and best selected Singapore savings account rates.

The Team
Singapore Savings Account Rates.

Jan 12, 2010

OCBC Bank Monthly Savings Account

OCBC Bank Monthly Savings Account

In this January 2010 introduction to OCBC Bank Monthly Savings Account, Singapore Savings Account Rates focuses on the OCBC MSA123 monthly savings account.

What is this OCBC Bank Monthly Savings Account MSA123 about? It is a savings account that earns you a higher interest rate if you develop the disciplined habit of saving a fixed amount of deposits each month.

Starting amount as low as $50 each month. Interest rate is fixed for entire duration of savings plan. If you withdraw savings deposits funds midway, the savings plan is discontinued. Other financial terms and banking conditions apply to OCBC bank monthly savings account.

OCBC Bank Monthly Savings Account Rates:

Period during which MSA started | Tenor | Interest Rates (p.a.)
4 Jan 2010 until further notice : 13 Months = 0.60%
4 Jan 2010 until further notice : 24 Months = 0.90%
4 Jan 2010 until further notice : 36 Months = 1.15%

OCBC monthly savings account rates are subject to change without notice at the absolute discretion of the respective bank.

Read more ...

Thanks for reading Singapore Savings Account Rates, where we bring you the latest and best selected Singapore savings account rates.

The Team
Singapore Savings Account Rates.

Jan 11, 2010

UOB Bank Campus Account Rates

UOB Bank Campus Account Rates

Singapore Savings Account Rates presents UOB Bank Campus Account Rates this January 2010.

Readers of Singapore Savings Account Rates in search of UOB bank campus account rates have come to the right online place in Singapore.

We share with you the UOB bank campus account rates today. Note that rates may be different by the time you read them today.

These rats are shown for your information and kindly ensure that you re-confirm the savings account rates with bank concerned.

Campus account savings rates may change without notice at the absolute discretion of bank.

UOB Bank Campus Account Rates:
(rates in percent per annum)

Amount Deposit | Rates
First S$15,000 = 0.1500
Next S$85,000 = 0.2500
Next S$200,000 = 0.3500
Remaining Balance Above S$300,000 = 0.4500

Thanks for reading Singapore Savings Account Rates, where we bring you the latest and best selected Singapore savings account rates.

The Team
Singapore Savings Account Rates.

Jan 9, 2010

Subscribe To Singapore Savings Account Rates Blogspot

Subscribe To Singapore Savings Account Rates Blogspot

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Thanks for reading Singapore Savings Account Rates, where we bring you the latest and best selected Singapore savings account rates.

The Team
Singapore Savings Account Rates.

Jan 6, 2010

DBS My Savings Account Rates Singapore

DBS My Savings Account Rates Singapore

Welcome back to Singapore Savings Account Rates.

And welcome to a new year, 2010.

Singapore Savings Account Rates is going to present the DBS My Savings Account Rates (Singapore) this January 2010 for readers' interest.

MySavings account rates of DBS bank Singapore are shown for your information. Before you consider investing cash in stocks, shares, bonds, unit trusts or other banking products, ensure that you re-confirm the savings account rates with bank concerned.

MYSAVINGS ACCOUNT RATES
(Interest rate is based on the Monthly Savings Amount)
FOR MONTHLY SAVINGS AMOUNT
$50 - $290 =0.1250
$300 - $790 =0.4000
$800 - $1,490 =0.4000
$1,500 - $3,000 =0.4000

MYSAVINGS ACCOUNT (TREASURES PREFERENTIAL INTEREST RATES)
(Interest rate is based on the Monthly Savings Amount)
FOR MONTHLY SAVINGS AMOUNT
$50 - $290 =0.1250
$300 - $790 =0.4000
$800 - $1,490 =0.4000
$1,500 - $3,000 =0.4000

Savings Account rates are subject to change without notice at the absolute discretion of bank.

Thanks for reading Singapore Savings Account Rates, where we bring you the latest and best selected Singapore savings account rates.

The Team
Singapore Savings Account Rates.

Jan 5, 2010

UOB Bank Promotion: Savings Accounts

UOB Bank Promotion: Savings Accounts (Singapore)

Singapore Savings Account Rates presents UOB Bank Promotion: Savings Accounts of Passbook account and Uniplus account.

This is a banking promotion by UOB Bank Singapore for UOB savings account depositors to enjoy a golden start to the Year of the Tiger.

To qualify for UOB Bank Promotion: Savings Accounts, top up or open UOB Passbook savings account or Uniplus account during this promotion.

In this UOB Bank Promotion: Savings Accounts, receive a 24K Gold-plated tiger collectible Prosperity Tiger or Fortune Carp or Happiness Tiger; and an extra 0.5% pa on your savings. Promotional offer starts from 2 January 2010 to 31 march 2010.

Limited gift sets. Top up and account opening deposit sums apply. Terms and conditions apply. Read UOB Bank Singapore fine print for details.

Promotional savings account rates are subject to change without notice at the absolute discretion of bank.

Thanks for reading Singapore Savings Account Rates, where we bring you the latest and best selected Singapore savings account rates.

The Team
Singapore Savings Account Rates.

Investing In Bank Accounts

Investing In Bank Accounts

This article on Investing in Bank Accounts is taken from MoneySense, a national financial education programme.

Singapore Savings Account Rates reproduces a part of it for the benefit of our numerous readers.

Before investing in bank accounts, you should be aware of the types of banking accounts and their suitability.

1) Types of banking accounts
Opening a bank account will help you manage your money to meet daily and emergency needs. At the same time, you can earn interest for your deposits with some types of accounts.

There are three main types of bank accounts, namely Savings, Current and Fixed Deposit Accounts. Their main features are tabulated below:¬

*If funds are required urgently you need to perform a premature withdrawal of the fixed deposit. A premature withdrawal may result in no payment of interest or partial loss of interest.

** Depending on the product features offered by your bank, you may choose to receive a passbook or regular account statements to keep track of your transactions and interest earned.

2) Which account is most suitable for me?

To decide what type of account is most suitable, consider your purpose of having the bank account.

If you are going to use your account for day-to-day money management, such as to pay bills, a current, savings or a combined current and savings account will be most useful.

If you are thinking of putting aside a sum of money for medium to long-term savings, then you may prefer to open a fixed deposit account.

For further reading on other consumer guides, please log on to the MoneySense website at www.moneysense.gov.sg

Thanks for reading Singapore Savings Account Rates.

The Team
Singapore Savings Account Rates.

Jan 4, 2010

FairPrice Plus Savings Account Rates

FairPrice Plus Savings Account Rates

What is the latest and best FairPrice Plus savings account rates in January 2010? That is the answer that we seek at Singapore Savings Account Rates as we inspect the FairPrice Plus Savings Account this January day.

Some things to note about the FairPrice Plus savings account:

Competitive interest rates from the very first dollar;
No opening deposit is required;
No minimum monthly balance to maintain and No monthly service fee.

Take note too that FairPrice Plus Savings Account rates are shown for your information. Before you consider investing cash in stocks, shares, bonds, unit trusts or other banking products, ensure that you re-confirm the savings account rates with bank concerned.

FairPrice Plus Savings Account rates are also subject to change without notice at the absolute discretion of the respective bank.

Here are the latest and best FairPrice Plus savings account rates.

FairPrice Plus Savings Account Rates:

Amount | Rate (% p.a.)

First S$50,000 = 0.30

From S$50,001 to S$500,000 = 0.60%

(Subject to maximum deposit of S$500,000)

Rates are provided for information only and not as inducement or recommendation to use the account. We disclaim all liabilities. You take 100% risk and 100% sole responsibility for any investing decision you make based on what you read here.

If you can live with that, continue reading Singapore Savings Account Rates.

We shall return in 2010 to bring you more of the latest and best selected Singapore savings account rates.

The Team
Singapore Savings Account Rates.

Jan 3, 2010

CPF Life

CPF Life

The Sunday Times published a front page article on Singapore's CPF Life payout today on 3 January 2010.

Singapore Savings Account Rates read that article and extracted some nuggets on CPF Life scheme and CPF Life payout data.

For those not in the loop, CPF Life is an annuity scheme. CPF Life is the acronym for Central Provident Fund Lifelong Income Scheme For The Elderly. You can read more about it in our earlier CPF Life post here.

In the newspaper article, the actual CPF Life account payout rates were not released. Only CPF Life payout sums were mentioned. The monthly CPF Life payout amount depends on factors like CPF Life account balance, gender, age, plan chosen.

37,000 members have opted for the CPF Life scheme, putting in SGD $1.5 billion. Highest CPF Life payout amount is $1040 a month.

72 per cent of those who signed up for CPF Life qualified for the L-Bonus and 74% qualified for the V-Bonus.

The CPF Life L-Bonus of up to $4000 is given to the first five cohorts who sign up for CPF Life. The L-Bonus amount depends on member's income level and annual home value.

The CPF Life V-Bonus of up to $1800 is given to members who voluntarily defer drawing down their minimum sum.

Government will be giving out $80 million in L-Bonus and V-Bonus in this CPF Life scheme.


Thanks for reading Singapore Savings Account Rates, where we bring you the latest and best selected Singapore savings account rates.

The Team
Singapore Savings Account Rates.

Jan 2, 2010

Singapore Sg Bank Savings Deposit Rates

Singapore Sg Bank Savings Deposit Rates

To start off 2010, Singapore Savings Account Rates finance blog is going to share a selected list of top Singapore Sg bank savings deposit rates.

These Singapore Sg bank savings deposit rates are obtained from the respective banks in Singapore recently but they are subject to change without notice. You should use these Singapore Sg bank savings deposit rates after careful consideration with regard to your unique personal financial position, savings requirement, and tolerance for risk of using Sg savings accounts.

You are advised to verify Singapore Sg bank savings deposit rates personally with the respective Singaporean or overseas-headquartered banks before using the interest rates. The latest Singapore Sg bank savings deposit rates are presented below for your financial interest and not for investing purpose.

In our previous post on the top Sg savings interest rates, we showed this list of Singapore Sg bank savings deposit rates:

Sg Bank Savings Account | Amount | Interest Rate (% per annum)

Fairprice Plus, $50,001 and more, 1.00%
UOB Passbook Savings / Uniplus Account, >$100,000 (with top up amount), 0.8%
Maybank iSavvy account, $50000 and more, 0.75%
Standard Chartered Bank e$aver/e$aver Kids/World Partner Savings Account, $200,000 and more, 0.68%
RBS Millennium Account, $500,000 and more, 0.55%
State Bank of India Savings Special Account, $1000 and more, 0.55%
Indian Bank Savings Account, –, 0.5%
Maybank Youngstarz, SaveUp accounts, $50000 and more, 0.5%
NTUC Thrift Savings Account, $1, 0.50%

Today, the latest and best selected Sg list of Singapore bank savings deposit rates are:

Fairprice Plus savings account = 0.6% (from $50,001 onwards)
Maybank iSavvy account = 0.58%
State Bank India Special savings account = 0.55%
RBS Millennium account = 0.55% (from $500,000 onwards)
Indian Bank Savings account = 0.50%
UOB i-Account / FlexiDeposit account = 0.45% (from $300,000 onwards)
NTUC Thrift Junior Savings Account = 0.42%

Terms and conditions apply to receive Singapore Sg bank savings deposit rates quoted above.


The Team
Singapore Savings Account Rates.

Jan 1, 2010

2010 Singapore Savings Account Rates Blog

2010 Singapore Savings Account Rates

Welcome back to Singapore Savings Account Rates blogspot.com in the year 2010.

We appreciate your presence in this new year of 2010. We take this opportunity to wish all Singapore Savings Account Rates readers a prosperous and happy new year.

We will continue to bring you news and updates on bank savings accounts in Singapore and their respective interest rates in the coming weeks and months of 2010.

We hope you like the Singapore savings account rates that we share with you in the past and many more into 2010.

Thanks for reading and supporting Singapore Savings Account Rates, where we bring you the latest and best selected Singapore savings account rates.

The Team
Singapore Savings Account Rates.

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